So if you go that route the $125k down payment will be directed to your mortgage company at closing - not you. 

I said that buying off the MLS at full cost, using secondary lenders for the down payment, closing costs and cash out was foolhardy.

My experience is the min is around 15%, but I've read some posts on BP that some lenders can offer a lower minimum (but that usually means a higher interest rate).

Tenants in many markets already believe they pay too much (contrary to recent studies that show rent to property values have never been lower for the large US cities).If my insurance costs are not double my current rates over the next couple years, I will be pleasantly surprised.  

A smaller mortgage means lower overhead, which is crucial if you’re worried about vacancies.

Id keep looking if it was not an approved short sale ( even an approved short sale takes a very very long time and theres no guarantee that you will even close on the house after months of waiting). q1)There are plenty of non traditional lenders that could offer you construction financing if the numbers make sense but it will cost you with points and a higher rate.

So your $10k could get you a property but what you don't think about is the tenant class is lower and the ups and downs are more frequent.  

I've had them long enough to keep pushing up rents so that I am at the top of my niche, but know not to exceed it because I'm just about at the point where if I raised rents another $50-$100 I'd be crossing over into the lower end for larger units.

If you want to change the design, then do upon closing.

Radiant heat is what you feel when you sit too close to a campfire.